- Spend less, save more, and invest wisely. For example, one way to spend less and save more is to create a savings goal, then find the money to reach it by creating a spending plan, also known as a budget. That’s why you’ll find stories here like Resolve to Budget This Year: Here’s How to Do It Painlessly.
- Pay less interest. Since paying interest on debt steals money we could be saving, we need to get rid of it. That’s why we have stories like How to Pay Debt Without Breaking a Sweat.
- Save smart. When it comes to making our savings work as hard for us as we do for it, we need to learn to take an acceptable level of risk. That’s why this website has an Investing section, with stories like How to Get Started Investing When You Don’t Have Much Money. We also need to get the highest interest possible on our savings, which is why we have a rates search page.
- Make more. Since what you make now will influence what you’ll have later, get the highest pay you can. Read stories like The 5 Best Ways to Make More Money.
Because Susan is concerned about her financial situation, maybe she’s already aware of many of these stories and tips. In fact, that’s probably why she’s a regular reader in the first place. She’s also recognized what may be the only true solution: “work until I’m 70 years old.”
While that may sound depressing, it doesn’t have to be, because in an ideal world, none of us should be “working” at all.
My dad worked for the government and counted the minutes until he could retire. I, on the other hand, love what I do, which means I don’t “work,” at least in the traditional sense. If I win the lottery today, I’ll still be sitting here tomorrow. Granted, I certainly want to work less as I age, as well as have the option to not work at all if I choose. But what we all should be seeking are careers that keep us coming back for more, especially when retirement is on the horizon. Because, if you use every trick in the personal finance book and still won’t have enough to retire, doing something meaningful and rewarding is the only way your golden years will be golden, both physically and emotionally.
I wish I could provide a magic bullet, a simple solution that would guarantee that those approaching retirement without sufficient savings could lead the life they’ve worked for and deserve. But doing something you love is about the only solution. So if you haven’t found the right job, Susan, start looking. That’s why we have a whole section of this site called Jobs and Work.
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I founded Money Talks News in 1991. I’ve earned a CPA (currently inactive), and have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Got some time to kill? You can learn more about me here.
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